In-shell walnuts market in Asia

Earlier Report Observations

The Asian in-shell walnut market volume grew strongly from around 1.9 million tonnes in 2018 to 2.7 million tonnes in 2023. This expansion was primarily driven by rising Chinese production, which benefited from policy support and favorable growing conditions in key provinces. Simultaneously, severe water shortages in California led to significant output declines there, reducing global supply and likely increasing reliance on Asian origins. Leading Chinese processor Six Walnuts invested heavily in technological innovation to improve product taste and nutritional value, which helped stimulate demand for processed walnuts and supported overall market growth.

Major players like Six Walnuts continuously expanded their market share, exceeding 80% by 2022, and diversified their product ranges. The launch of new products such as walnut coffee drinks and fermented walnut milk by companies like Yangyuan Beverage catered to evolving consumer preferences for health and variety, further boosting consumption. After a period of stabilization in 2021, market growth resumed, supported by the industry's adoption of sustainable practices like water-saving irrigation and biological pest control. Chinese walnut output continued its upward trend, increasing by nearly 10% in 2023.

Entering 2024, the industry focus shifted towards high-quality development and deeper supply chain restructuring. While Six Walnuts further consolidated its position, the market faced increased international competition from Chilean and Chinese walnuts. The sharp production drop in California limited export availability, potentially tightening global supply. However, some segments like walnut milk beverages experienced declining sales, indicating shifting demand patterns within the broader walnut product landscape.

Production in-shell walnuts in Asia

In kind, 2017-2020, K t

Top producers of in-shell walnuts, 2017-2020

World map of production of in-shell walnuts, 2017-2020

Asia's in-shell walnut production has increased for the second consecutive year. In 2020, production reached 2 179 thousand tonnes, marking a 10.0% rise compared to 2019. Over the period from 2017 to 2020, production grew by 8.2%, with a compound annual growth rate of 2.7%. The lowest production level was recorded in 2018 at 1 802 thousand tonnes, which also saw the largest decline of 10.5%.

Annual dynamics of production in Asia in kind, 2017-2020, K t

Exports in-shell walnuts from Asia

Exports in kind, K t

After two years of growth, Asia's in-shell walnut exports declined. In 2020, exports stood at 22.1 thousand tonnes, down by 64.8% from 2019. Between 2017 and 2020, exports decreased by 42.6%, equating to an annualized rate of 16.9%. The highest export volume was recorded in 2019 at 62.7 thousand tonnes, which also experienced the largest increase of 31.5% in 2018.

Annual dynamics of product's exports from Asia in kind, 2017-2020, K t

From 2017 to 2020, Russia, Morocco, and Algeria formed the core group of markets for Asia's in-shell walnut exports in kind. Russia accounted for 3.4% of exports, Morocco for 2.5%, and Algeria for 1.8%, together representing 7.6% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Asia in kind, 2017-2020

Exports in value, M $ US

The market showed an unstable trend during this period. Exports varied by a factor of 2.1, with the lowest value in 2017 and the highest in 2019. In 2020, Asia's in-shell walnut export value totaled 310.2 million US dollars, a steep decline of 28.5% from the previous year. The maximum value was recorded in 2019 at 433.6 million US dollars, which also saw the largest increase of 113.4%.

Annual dynamics of product's exports from Asia in value, 2017-2020, M $ US

From 2017 to 2020, Morocco, Algeria, and Russia remained the main markets for Asia's in-shell walnut exports in value terms. Morocco accounted for 2.2% of exports, Algeria for 1.7%, and Russia for 1.0%, jointly taking 5.0% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Asia in value, 2017-2020

Imports in-shell walnuts to Asia

Imports in kind, K t

In 2020, foreign in-shell walnut supplies to Asia reached 138.5 thousand tonnes, a reduction of 25.2% compared to 2019. Between 2017 and 2020, imports increased by 17.4%, equating to an annualized rate of 5.5%. The minimum import volume was recorded in 2018 at 117.9 thousand tonnes, while the maximum was in 2019 at 185.2 thousand tonnes, which also experienced the largest increase of 57.1%.

Annual dynamics of product's imports to Asia in kind, 2017-2020, K t

From 2017 to 2020, the United States, Chile, and Ukraine played leading roles in Asia's in-shell walnut imports in kind. The United States accounted for 39.5% of imports, Chile for 19.8%, and Ukraine for 6.3%, together representing 65.6% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Asia in kind, 2017-2020

Imports in value, M $ US

In 2020, in-shell walnut shipments to Asia from abroad amounted to 380.4 million US dollars, representing a 16.5% decline compared to 2019. Between 2017 and 2020, imports decreased by 2.1%, equating to an annualized rate of 0.7%. The minimum value was recorded in 2018 at 371.2 million US dollars, while the maximum was in 2019 at 455.8 million US dollars, which also saw the largest increase of 22.8%.

Annual dynamics of product's imports to Asia in value, 2017-2020, M $ US

From 2017 to 2020, the United States, Chile, and Ukraine remained key partners in Asia's in-shell walnut imports in value terms. The United States accounted for 48.5% of imports, Chile for 24.1%, and Ukraine for 2.6%, together accounting for 75.2% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Asia in value, 2017-2020